Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Global trader Glencore said on Wednesday that production at two of its Australian coal operations has been affected by heavy rain that has caused flooding in northern parts of Queensland state.
“We have experienced short-term production impacts from heavy rain at our two most northerly coal sites, Collinsville and Newlands,” a Glencore spokesman said in a statement to Reuters.
It gave no further details.
Combined, the mines produced around 8 million tonnes of thermal and coking coal in 2017.
Major flooding has caused parts of Queensland to be declared disaster zones, resulting in two casualties and more than 1,100 evacuations, after authorities opened up dam gates following days of torrential rains that filled reservoirs to overflowing.
Glencore, which is also a major producer of copper and zinc in Australia, said “controlled operations” were continuing at its Queensland copper and zinc businesses in Townsville, Mount Isa and Cloncurry.
(By Melanie Burton; Editing by Richard Pullin)
